Southern Cross Gold Consolidated (ASX: SXG) has requested a trading halt for its ASX-listed CHESS depositary interests. The request is pending a decision from the Victorian government regarding the company’s work plan application for a tunnel development at its Sunday Creek project. Southern Cross Gold is focused on the discovery and development of high-grade, epizonal gold deposits in Australia and North America. The company aims to create value for shareholders through successful exploration and responsible project development.
The trading halt will remain in effect until either the company releases an announcement regarding the government’s decision or the commencement of trading on Monday. This measure ensures that the market is fully informed before trading resumes, preventing potential speculation based on incomplete information. The company is actively working with the Victorian government to secure the necessary approvals.
The Sunday Creek project is a key asset for Southern Cross Gold, and the proposed tunnel development is a critical component of the company’s overall strategy. The outcome of the work plan application will significantly impact the project’s timeline and future development. Investors are advised to monitor the company’s announcements for further updates following the government’s decision.
Southern Cross Gold has not provided a specific timeline for the government’s decision but expects to update the market as soon as information becomes available. The company believes the tunnel development is vital for accessing key gold deposits within the Sunday Creek project, and has expressed optimism regarding a favourable outcome.
